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republicans say the tax hikes would only hurt job creation. but in arlington, virginia, vice president biden said today's jobs report shows the economy is turning a corner, so it's critical to get a deal. >> there is a sense... there is a sense that if we can reach an- - act like adults and reach an agreement here on the fiscal cliff, the upside is much higher even than the downside is if we don't. >> sreenivasan: biden said the president is willing to consider what he called any serious offer. aides for the two sides were expected to continue talking, through the weekend. wall street was mostly higher on the news from november's jobs report. the dow jones industrial average gained 81 points to close at 13,155. the nasdaq was hurt by another sell-off in apple stock, and fell 11 points to close at 2,978. for the week, the dow gained 1%. the nasdaq lost 1%. this was another tense day across egypt, as a political crisis deepened. tonight, thousands of protesters pushed past army and police outside the presidential palace, demanding that president
republicans say the tax hikes would only hurt job creation. but in arlington, virginia, vice president biden said today's jobs report shows the economy is turning a corner, so it's critical to get a deal. >> there is a sense... there is a sense that if we can reach an- - act like adults and reach an agreement here on the fiscal cliff, the upside is much higher even than the downside is if we don't. >> sreenivasan: biden said the president is willing to consider what he called any...
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taxes versus spending. deciding how much of each is what's holding up any deals on averting the fiscal cliff. negotiations are pretty much at a standstill, but if you ask house speaker john boehner, he has an idea of who's holding things up. >> there are a lot of things that are possible to put the revenue the president seeks on the table. but none of it's going to be impossible. the president insists on his position. insists on my way or the highway. >> in his weekly white house address this morning, president obama responded to boehner's remark. >> i'm willing to make more entitlement spending cuts on top of the one trillion dollars in spending cuts i signed into law last year. but if we're serious about reducing our deficit while still investing in things like education and research that are important to growing our economy, and if we're serious about protecting middle class families, then we're also going to have to ask the wealthiest americans to pay higher tax rates. that's one principle i won't compr
taxes versus spending. deciding how much of each is what's holding up any deals on averting the fiscal cliff. negotiations are pretty much at a standstill, but if you ask house speaker john boehner, he has an idea of who's holding things up. >> there are a lot of things that are possible to put the revenue the president seeks on the table. but none of it's going to be impossible. the president insists on his position. insists on my way or the highway. >> in his weekly white house...
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the way for the tax cuts. here is what he's having to say about that. >> none of us want to raise the rates on anybody. but the reality is the rates on everybody go up at the end of the month. since we agree with the democrats, 98% of the american people and 80% of the bush tax cuts, get it off the table now so they don't worry about it. they are the president's leverage. the democrats are screaming your taxes are going to go up. >> that's the president's leverage in this debate as he's saying there. if congress extends the tax cut for everyone except the 2%, does it give the republicans the leverage they need after the new year? >> yeah. we are still going to have the fight over the debt ceiling. obama would love to take it off the table now. there's no way republicans are going to give that up. it's a crucial piece of leverage than the tax rates. as we saw a year and a half ago, that is really sort of putting the basic fiscal health of the country at risk. a lot of republicans are looking at that saying this
the way for the tax cuts. here is what he's having to say about that. >> none of us want to raise the rates on anybody. but the reality is the rates on everybody go up at the end of the month. since we agree with the democrats, 98% of the american people and 80% of the bush tax cuts, get it off the table now so they don't worry about it. they are the president's leverage. the democrats are screaming your taxes are going to go up. >> that's the president's leverage in this debate as...
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so he gets tax hikes. but then what? i mean, the new normal that's being painted by your friends over at the oecd say our girls will probably be about 2.2%. 2% maybe if we're luck in next year. the new normal even with high taxes doesn't look good. >> yeah. let's hope it's higher than that i think it's going to be a bumpy 60 days in my view. fiscal cliff. as low as that 2% is. the awful state of the world right now is that is about the fastest growth rate of every advance the country on earth. that tells you exactly why the unemployment rate remains high and it comes down, you know, some as we saw in the jobs data today but not that fast. you know, i would say overall it's just moderately good news. >> austin, obviously you are not talking about china when you made that reference. china's economy. what did it grow at 7.2% recent numbers something like that? it's down a little bit. i will take those numbers. >> official numbers are. >> china growing at much faster rate than we are still with its own challenges. >> a whole
so he gets tax hikes. but then what? i mean, the new normal that's being painted by your friends over at the oecd say our girls will probably be about 2.2%. 2% maybe if we're luck in next year. the new normal even with high taxes doesn't look good. >> yeah. let's hope it's higher than that i think it's going to be a bumpy 60 days in my view. fiscal cliff. as low as that 2% is. the awful state of the world right now is that is about the fastest growth rate of every advance the country on...
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. >> estate taxes. >> estate taxes. a straight couple would not have received that bill. it's simply unfair. if you look at the plaintiffs in this case, chris and sandy have two twin boys and just entering high school when we filed this case and by the supreme court renders the decision, they will be entering college. their moms still can't get marry. paul and jeff, the other plaintiffs in this case, said they want to be married before they have children. think eve been together more than a decade and still don't have the right to marriage equality. >> it's called family values. >> that's exactly right. >> thank you very much. >> thank you. >>> what political story will make headlines in 24 hours? that's next right here. bed in america. the tempur-pedic ergo system. treat yourself to the ultimate sleep experience and save up to $400 during the tempur ergo savings event. plus visit tempurpedic.com for full details on our 0% apr financing with up to five years to pay. don't wait. five-year special financi
. >> estate taxes. >> estate taxes. a straight couple would not have received that bill. it's simply unfair. if you look at the plaintiffs in this case, chris and sandy have two twin boys and just entering high school when we filed this case and by the supreme court renders the decision, they will be entering college. their moms still can't get marry. paul and jeff, the other plaintiffs in this case, said they want to be married before they have children. think eve been together...
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they are saying we're not voting for a tax rise or a tax cut. we're kind of abstaining all around. well, if that's their position, fine. i think they call that not leading. >> secretary reich, what do you make of that? we talk about kibuki theater. is anything more kibuki than that, voting present instead of yes, abstaining instead of casting a vote one way or another? >> it's a game within a game within a game. and it's an insiders game. the fact of the matter is most americans, even if they're called republicans, even if they consider themselves conservatives, they understand that 98% of americans do deserve a tax cut, a continuation of the bush tax cuts. and they understand that the rich have never been as rich, and they've never paid an effective tax rate that is as low in living memory. if we have a budget deficit at all, it is only fair. and you don't have to be -- again you don't have to be a republican, you can be a common sense republican to understand that this requires that the bush tax cuts not be extended for the richest 2%. it is finally getting through. and i think t
they are saying we're not voting for a tax rise or a tax cut. we're kind of abstaining all around. well, if that's their position, fine. i think they call that not leading. >> secretary reich, what do you make of that? we talk about kibuki theater. is anything more kibuki than that, voting present instead of yes, abstaining instead of casting a vote one way or another? >> it's a game within a game within a game. and it's an insiders game. the fact of the matter is most americans,...
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but if you remember, when the clinton tax cuts-- tax rates were imposed in 1993, martin felledsteen, you know, a very substantial economist, wrote an op-ed in the "with the journal" that day predicting we were going into a deep recession pause of the tax rates. we went into a big boom. we're tingering on the edges here of a massive economy. >> schieffer: michael? >> everybody knows the conversation needs to take place. speaker boehner calling the president saying i'll give some on rates. you have to give some on structural eltitlement reforms. the problem is, it's the president who sets the groundwork for that discussion. and right now republicans think the president's undermining that possible conversation by an unreasonable first setef demands, procedural changes that would make them irrelevant. the art of the deal involves giving people a soft place to land. and right now, republicans aren't seeing a soft place to land. their only option is humiliation in this process, and they're increasingly thinking that the president sees victory at the bottom of the fiscal cliff. >> but remem
but if you remember, when the clinton tax cuts-- tax rates were imposed in 1993, martin felledsteen, you know, a very substantial economist, wrote an op-ed in the "with the journal" that day predicting we were going into a deep recession pause of the tax rates. we went into a big boom. we're tingering on the edges here of a massive economy. >> schieffer: michael? >> everybody knows the conversation needs to take place. speaker boehner calling the president saying i'll give...
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on the decision to increase tax burdens on the country is a sales tax on consumer goods and services this is seen to be quite popular for him in the face of much to sense the increased tax burdens were supposed to be part of i.m.f. loan international monetary fund lone wolf point eight billion dollars loan the country's been trying to secure recently definitely these reducing these tax burdens will perhaps make him more popular among the streets but yesterday of course the national salvation front become a nation of opposition forces going in many of these protests in the city so they completely reject the concept of referendum set to be next week and have called for protests they say the constitution only in-force a presidential dictatorship i mean it's a. key social economic demands as well as being presented of the country. by islamist dominated constituent assembly to here in cairo really expecting big crowds on cheese day against the president to protest was arranged by a new coalition of islamic forces supports the president on tuesday they said they want to have a million peop
on the decision to increase tax burdens on the country is a sales tax on consumer goods and services this is seen to be quite popular for him in the face of much to sense the increased tax burdens were supposed to be part of i.m.f. loan international monetary fund lone wolf point eight billion dollars loan the country's been trying to secure recently definitely these reducing these tax burdens will perhaps make him more popular among the streets but yesterday of course the national salvation...
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down in disgrace last year with italy on the brink of financial disaster and since been convicted of tax fraud. well this weekend the world's best figure skaters are testing the olympic ice in russia's resort city of sochi the countdown is in full swing with just over a year left until the winter games. reports now from the next olympic city. there is just over a year until the actual winter olympics get under way but still this toss competitions give us a chance that the construction is almost over and that the city will soon transform into the world capital off the winter games now this weekend is all about pushing the new venue through their paces of course all eyes are right now at this ice berg arena ice rink which is right behind my back it's a new twelve thousand rink which is part of a cluster of ice sports venue suites have been or are still being built along the black sea coast now its brand new sparking doors have just been opened for numerous competitors from around the globe and it seems no matter how they would actually do at the event they will sure go back home pleased wi
down in disgrace last year with italy on the brink of financial disaster and since been convicted of tax fraud. well this weekend the world's best figure skaters are testing the olympic ice in russia's resort city of sochi the countdown is in full swing with just over a year left until the winter games. reports now from the next olympic city. there is just over a year until the actual winter olympics get under way but still this toss competitions give us a chance that the construction is almost...
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not the tax rates. cut the spending, not the -- >> gretchen: it's kind of like that duh sound on the simpson show. people know this. people know this is what it's going to come down to yet it's this posturing. now headlines, chaos in cairo. president morsi returning to his palace overnight. he took off amid violent protests between police and protests, 100,000. they're outraged over morsi expanding his powers. hello, you elected him -- but the muslim brotherhood calling for its own protests over alleged abuses by the opposition. several tv stations in egypt going back to protest the constitution drafted by islamists. >>> new chilling surveillance video showing the moment when a barista came face-to-face with her killer. you can see 18-year-old samantha make the coffee and then raise her hands as if she's being held up. he makes her turn off the lights and climb through a window before tying her hands behind her back, chilling. the f.b.i. says he then sexually assaulted and he killed her. he's confessed
not the tax rates. cut the spending, not the -- >> gretchen: it's kind of like that duh sound on the simpson show. people know this. people know this is what it's going to come down to yet it's this posturing. now headlines, chaos in cairo. president morsi returning to his palace overnight. he took off amid violent protests between police and protests, 100,000. they're outraged over morsi expanding his powers. hello, you elected him -- but the muslim brotherhood calling for its own...
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that tax code a little more progressive. you will have given a little more pain relative to everyone else to the top 2%. that's an important principle i think because this economic downturn has hurt the 98% so much more than the rich. i think it's really important to stay with what the president ran on, the 250 and above because, look, if they don't make a deal, it's going to happen anyway. republicans don't have any room to maneuver it up to $500,000. it's going to happen anyway. >> let's look at this new poll. shows raising tacks on the rich is overwhelmingly popular. no surprise there. 60% of the country favor raising taxes on house holds making $250,000 or more. 38% oppose it. >> yeah. >> i was thinking about 38 thrs. only 2% of the 38% get something out of it. 36% don't. >> i really don't think people who make $250,000 a year, a family of four $250,000 a year of annual income or adjusted gross income is rich. >> depends where you live. >> right. >> and very few people really make that. >> oh, it does. >> take that numbe
that tax code a little more progressive. you will have given a little more pain relative to everyone else to the top 2%. that's an important principle i think because this economic downturn has hurt the 98% so much more than the rich. i think it's really important to stay with what the president ran on, the 250 and above because, look, if they don't make a deal, it's going to happen anyway. republicans don't have any room to maneuver it up to $500,000. it's going to happen anyway. >>...
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they sent her a tax bill for $300,000. they wouldn't do that to you and your wonderful wife, and they wouldn't do that to other straight couples in this country. it's not fair. >> let's go to -- let's get revolutionary. we only have a few minutes. wonder looking at justice kennedy, maybe because he's irish, i'm just kidding, there's something about him i find very interesting. >> and from california. >> he's from california. if you look at the majority opinion in the case involving lawrence versus texas which was about outlawing or basically declaring sodomy -- anti-sodomy laws unconstitutional, he says not only in that court decision you can't deny a person's liberty in these cases to engage in intimate conduct but it's about something bigger. marriage is not about having constant sex, it's about having a loving relationship. it's about people. >> right. >> not organs. let me -- >> it's about families. >> okay. you tell it your way. if it gets down to questions of liberty and equal protection of the law, fundamental thing
they sent her a tax bill for $300,000. they wouldn't do that to you and your wonderful wife, and they wouldn't do that to other straight couples in this country. it's not fair. >> let's go to -- let's get revolutionary. we only have a few minutes. wonder looking at justice kennedy, maybe because he's irish, i'm just kidding, there's something about him i find very interesting. >> and from california. >> he's from california. if you look at the majority opinion in the case...
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>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the business in the future growth, but for a one-time equity pay out. >> and to worry about interest rates are low thanks to ben bernanke. >>, but this shows the tax rates combined with very low bore heing costs and instead of investing in growth, y
>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and...
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one thing that will happen without an agreement, all the bush tax rates go away, so everyone's taxes are going to go up. you'll see that emphasized over the next couple weeks. you'll hear the white house talk about what a bad situation there will be after january 1 if this deal is not cut. >> david jackson, "usa today," shira toeplitz, "roll call." we appreciate your time so much we'll talk to you later in the hour as well. >> thank you. >>> the last remaining house race of the 2012 election cycle is pabt to come to a close. in louisiana, republican congressman charles boustany jr., jeff landry facing off in a runoff election. they were forced to run in the same district in bayou because of the state's shrinking congressional delegation. both conservative republicans, landry a tea party freshman. we'll keep you abreast of what happens. >>> meanwhile, high drama about to surround the high court as the justices agree to take on the high-stakes issue of same-sex marriage. ♪ >>> the man with that most-watched youtube video of all time due to perform for the president in a few hours. bu
one thing that will happen without an agreement, all the bush tax rates go away, so everyone's taxes are going to go up. you'll see that emphasized over the next couple weeks. you'll hear the white house talk about what a bad situation there will be after january 1 if this deal is not cut. >> david jackson, "usa today," shira toeplitz, "roll call." we appreciate your time so much we'll talk to you later in the hour as well. >> thank you. >>> the last...
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disgrace last year were literally on the brink of financial disaster and has since been convicted of tax fraud. two thousand pro british protesters have rallied outside belfast city hall in northern ireland over their local councils vote to remove the u.k. flag from the building police officer has been injured in the clashes follows trouble when the vote was first announced last monday and also on friday when eight police officers were injured and at least thirteen people after riots politicians have appealed for the protests to stop. this weekend the world's best figure skaters are testing the olympic ice in russia's resort city of sochi the countdown is in full swing with just over a year left until the winter games. over reports now from the next olympic city. there is just over a year until the actual winter olympics get underway but still if this task competitions give us a chance that the construction is almost over and that the city will soon transform into the world capital of the winter games this weekend is all about pushing the new venue through their paces of course all eyes
disgrace last year were literally on the brink of financial disaster and has since been convicted of tax fraud. two thousand pro british protesters have rallied outside belfast city hall in northern ireland over their local councils vote to remove the u.k. flag from the building police officer has been injured in the clashes follows trouble when the vote was first announced last monday and also on friday when eight police officers were injured and at least thirteen people after riots...
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these taxes the president wants. if begive him all tax increases it pays for 8 and a half days of government. it doesn't do anything for middle class it will destroy middle class job creation. the more we tell people that the stronger we will be in being able to negotiate a solution moving forward. >> bill: handicap it real quick, is it going to happen or go into january with chaos? >> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff which is a creation of congress. it's a bipartisan creation. this fiscal cliff is the result of the last fiscal cliff. >> bill: that put a date on there. >> yeah. >> bill: may extend the date that's what i think is going to happen. >> my hope is is that we can avoid the bad stuff. then we have to deal with the 16 trillion-dollar debt that $1 trillion a year in deficit spending. we have to solve that. that thing is not going to solve itself. >> bill: doesn't feel like the president feels the urgency that you feel. you are one of the leaders
these taxes the president wants. if begive him all tax increases it pays for 8 and a half days of government. it doesn't do anything for middle class it will destroy middle class job creation. the more we tell people that the stronger we will be in being able to negotiate a solution moving forward. >> bill: handicap it real quick, is it going to happen or go into january with chaos? >> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff...
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we want to tax the rich with higher tax rates on the rich. we have a dollar difference, a difference in principle. martha: we are hung up on ideology here. if you can get the money one way and it produces a long lasting change to the tax code which both sides say they want, what seems to be the problem? >> reporter: it's ideology. the president one the elect, he says he won it on taxing the rich. he want to win the debate. whether it's the best solutioner to the economy is an entirely different story. this is a political and ideological argument and we'll see who wins. martha: there is a couple ways this could go. one is to land in the middle. you have $800 billion and $1.6 trillion. the other is for one side to say no deal. we'll let you go over the fiscal cliff and we'll see what happens. >> reporter: at the last minute i think there will be a deal. i think republicans will retreat and say okay, you can have higher tax rates but only on people making a half million dollars a year. the president will say, okay, but we'll only discuss -- we'l
we want to tax the rich with higher tax rates on the rich. we have a dollar difference, a difference in principle. martha: we are hung up on ideology here. if you can get the money one way and it produces a long lasting change to the tax code which both sides say they want, what seems to be the problem? >> reporter: it's ideology. the president one the elect, he says he won it on taxing the rich. he want to win the debate. whether it's the best solutioner to the economy is an entirely...
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some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not at all clear that the republicans will agree to including a debt limit increase in that kind of package. if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration, the white house has been very clear, they will not sign anything, even to get past december 31st. that doesn't include a debt ceiling of some sort. so do you think they can hold firm on that if republicans offer them a package that doesn't include the debt ceiling? >> this is where i think the tension is now arising, which is even if you have some agreement over the tax rates which will jam the republicans a bit, can you jam them on the debt limit also. i think the concern will be an administration overstepping or overreaching and trying to jam a debt limit increase, especially the kinds that are being discussed now. i'm all in favor of getting rid of the
some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not at all clear that the republicans will agree to including a debt limit increase in that kind of package. if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration, the white house has been very clear, they will not sign...
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their tax rates are low. meanwhile, the middle class is disappearing, and they're in a lot of trouble. yes, the wealthy and large corporations must be asked to play a significant role in deficit reduction. yes, we must not cut social security, medicare, medicaid, education. that's not bernie sanders' point of view that is clearly what the american people believe. and the president, democrats have got to hold firm and when they do, it will finally be the republicans that come to the table rather than just the democrats caving in, as has been the case in the past. >> all right, senator bernie sanders, appreciate your time on this friday night. thank you so much for joining us. >>> coming up, the fight over the fiscal cliff is putting american jobs at risk. one of these congressional members is lying about the problem. we'll use the newest job numbers to get to the truth next. >>> and republicans in michigan are ramming through antiunion legislation and hurting middle class americans in the process. the people o
their tax rates are low. meanwhile, the middle class is disappearing, and they're in a lot of trouble. yes, the wealthy and large corporations must be asked to play a significant role in deficit reduction. yes, we must not cut social security, medicare, medicaid, education. that's not bernie sanders' point of view that is clearly what the american people believe. and the president, democrats have got to hold firm and when they do, it will finally be the republicans that come to the table rather...
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so is it just about the taxes for the wealthy versus the spending cuts? one gop leader has another take. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. >> political calculation. that's south carolina's lindsey graham and joining me is white house correspondent brianna keilar. there are people talking about what that political calculation means and even that term itself is becoming political. so spell it out if you would please, brianna. >> reporter: there is a political calculation going on over here at the white house, and that's that the white house and congressional democrats feel that they have more of the leverage and they do. they feel like when you look at polls that show increasing taxes on the wealthy is popular, that if the country were to go over the fiscal cliff, they would be more effective in blaming it on republicans than vice versa. they feel like republicans know that. and they feel like they can kind of paint republicans in to this corner on income tax rates but as you know, as of rig
so is it just about the taxes for the wealthy versus the spending cuts? one gop leader has another take. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. >> political calculation. that's south carolina's lindsey graham and joining me is white house correspondent brianna keilar. there are people talking about what that political calculation means and even that term itself is becoming political. so spell it out if you would please,...
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the tax cliff is coming. grover norquist says upper earners are getting hit with higher taxes for parts of the health carr law. why isn't that enough? he is here to keep fighting the fight. >>> plus venezuela just surpassed saudi arabia with the world's largest oil reserves. now hugo chavez has announced his cancer is back. a chart, changing of the guard there could have a huge impact on the globlt oil market. we'll have details. >>> so much pot, so few answers. legalized marijuana laws take effect in washington state and colorado. from driving high to trafficking weed over sttte borders the legal and financial nightmares are just beginning. but we're convening a pot power panel to help clear the smoke. even when they say it's not it is always about money. melissa: first let's look at the day's market headlines. some breaking news on aig just out a short time ago. the treasury announced it is selling all of its remaining 234 common shares in the insurance giant however treasury will continue to hold warrants
the tax cliff is coming. grover norquist says upper earners are getting hit with higher taxes for parts of the health carr law. why isn't that enough? he is here to keep fighting the fight. >>> plus venezuela just surpassed saudi arabia with the world's largest oil reserves. now hugo chavez has announced his cancer is back. a chart, changing of the guard there could have a huge impact on the globlt oil market. we'll have details. >>> so much pot, so few answers. legalized...
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Dec 10, 2012
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CURRENT
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>> stephanie: won't rule out a 37% tax rate? congressional leaders in both parties signaled they would be open to compromise on the top bracket tax rates. what is the point of winning a second landslide in a row? >> because -- >> stephanie: he was asked about a top rate of 37. halfway between the current rate of -- to the point where it's supposed to go back to. >> we still need the house in order to pass the law. >> stephanie: nancy pelosi says it is about the money. getting the money to grow the economy and unleash the power. she didn't know if a top tax rate of 37% would bring in sufficient revenue. >> handouts. entitlements. social security. >> social security? >> stephanie: can't say that. too many ss. >> the 47%. >> stephanie: okay. >> drunk uncle. >> stephanie: the white house has said 39.6% is its preference but has not ruled out 37%. [ wah wah ] the white house believes it has the leverage because it is willing to go off the cliff which is what they have said. that's why i don't get why we compromise on the rate. why wo
>> stephanie: won't rule out a 37% tax rate? congressional leaders in both parties signaled they would be open to compromise on the top bracket tax rates. what is the point of winning a second landslide in a row? >> because -- >> stephanie: he was asked about a top rate of 37. halfway between the current rate of -- to the point where it's supposed to go back to. >> we still need the house in order to pass the law. >> stephanie: nancy pelosi says it is about the...
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Dec 4, 2012
12/12
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CNBC
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the most supply side oriented tax of all is the tax on risk and wealth, namely capital gains tax, risk wealth high risk stock investment. every time the capital gains tax rate is cut, revenues soar as they did under bill clinton. in fact, president obama was asked this in a tv interview during the campaign and he said i know that's what the numbers show but i still want to raise the top rates. if ever there's a supply side tax rates where lower rates produce higher rates it's capital gains. >> that's right. people start taking gains and hold on to what they have. that means capital is not put to work. in the early 1990s the economy was starting to get a real head of steam. not enough to save george h.w. bush but that slowed in '93 and '94. when republicans came in, cut spending, killed hilary care and alan greenspan had a sensible monetary policy, the economy started to recover and then clinton got the religion, he cut capital gains. >> steve is giving your man all these kudos and you're not taking them. >> two things first, larry, didn't president reagan raise the capital gains tax ra
the most supply side oriented tax of all is the tax on risk and wealth, namely capital gains tax, risk wealth high risk stock investment. every time the capital gains tax rate is cut, revenues soar as they did under bill clinton. in fact, president obama was asked this in a tv interview during the campaign and he said i know that's what the numbers show but i still want to raise the top rates. if ever there's a supply side tax rates where lower rates produce higher rates it's capital gains....
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Dec 10, 2012
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CURRENT
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i think they know they have lost the battle on the tax cuts. even if they don't get a 39.6, they will agree to 37 or 37 natural or whatever. right? >> i think they have someling cover. >> bill: wait until the debt ceiling. if i were -- i would -- i would have to advise the republicans don't count on winning that battle either. right? advise the republicans don't count on winning that battle either. more. >> "the bill press show." [ music ] [ music ] >> chatting with you life at current.com/bill presscurrent.com/billpress, this is the bill "the bill press show" live on your radio and oncurrent tv. >> bill: welcome back friends and neighbors. it is monday morning december 10th. here, we are coming to you life from our nation's capitol in our studio on capitol hill. it's the full court press brought to you today by the united steel workers and their international president, one and only leo gerard the united steel workers, the largest industrial union rep pretty senting over 1.2 million active and retired members. their website where you can find
i think they know they have lost the battle on the tax cuts. even if they don't get a 39.6, they will agree to 37 or 37 natural or whatever. right? >> i think they have someling cover. >> bill: wait until the debt ceiling. if i were -- i would -- i would have to advise the republicans don't count on winning that battle either. right? advise the republicans don't count on winning that battle either. more. >> "the bill press show." [ music ] [ music ] >> chatting...
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Dec 8, 2012
12/12
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FOXNEWSW
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and middle class taxes will go up. six out of 10 people say if a deal is reached, middle class taxes will go up anyhow and they don't expect to see spending cuts. there is a lot of skepticism, and even if there is a tax hike of any kind in this people don't think it will reduce the deficit. they think it will be spent on new programs. >> the consumer confidence survey out of michigan just came out. but you have your own consumer confidence. talk to us about that. >> we measure consumer confidence every day. right now the confidence levels are about as high as they have been in the last four years. a little higher than we saw earlier in the year this. is a big reason president obama was re-elected. and on our daily tracking, the highest single day of consumer confidence in the last four years was two days before the election. >> interesting. scott rasmusson, thanks very much. >> thanks, scott. >>> that will do it for us. rick and arthel will take over at the top of the hour. >> we will see you here at 4:00 p.m. eastern.
and middle class taxes will go up. six out of 10 people say if a deal is reached, middle class taxes will go up anyhow and they don't expect to see spending cuts. there is a lot of skepticism, and even if there is a tax hike of any kind in this people don't think it will reduce the deficit. they think it will be spent on new programs. >> the consumer confidence survey out of michigan just came out. but you have your own consumer confidence. talk to us about that. >> we measure...
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Dec 6, 2012
12/12
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CSPAN
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keep the employee payroll tax at 4.2% next year. to keep the economy growing -- there is good evidence of that in the last couple of months? job growth of about 511,000. to keep that momentum going, we should alwaprovide tax credits o small businesses. my legislation includes such an incentive for small businesses to grow. i am confident that congress will again be successful in reaching a compromise in the days ahead. i look forward to hearing today from the experts that we have before us today on how to reduce the deficit while protecting middle income families. as we enter the holiday season,
keep the employee payroll tax at 4.2% next year. to keep the economy growing -- there is good evidence of that in the last couple of months? job growth of about 511,000. to keep that momentum going, we should alwaprovide tax credits o small businesses. my legislation includes such an incentive for small businesses to grow. i am confident that congress will again be successful in reaching a compromise in the days ahead. i look forward to hearing today from the experts that we have before us...
SFGTV: San Francisco Government Television
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Dec 6, 2012
12/12
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additional tax is one of the many results of the -- marriage act in congress. domestic partners are denied federal protection offered to other couples such as immigrant rights, social security survival benefits and ability to file joint tax returns. this additional tax on same sex domestic partners adds another sting to doma. these next few weeks will be significant forjíÑ the lgbt community and those who stand with them as the supreme court will decide whether to -- proposition 8 perry case and various doma cases however i don't believe we should stand still while this discrimination continues. i look forward to working with everyone on the board to the rest i submit. >> clerk calvillo: thank you. supervisor chu. >> supervisor chu: thank you very much. i have an empirrative item later on and i want to speak to it. it is a purely commendatory item. i am joined by supervisor elsbernd in sponsoring this. i simply want to recognize the grand reopening of the sunset rec center in my district located in the the heart of the sunset district and is actually our own
additional tax is one of the many results of the -- marriage act in congress. domestic partners are denied federal protection offered to other couples such as immigrant rights, social security survival benefits and ability to file joint tax returns. this additional tax on same sex domestic partners adds another sting to doma. these next few weeks will be significant forjíÑ the lgbt community and those who stand with them as the supreme court will decide whether to -- proposition 8 perry case...
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Dec 10, 2012
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it looks like there's a deal on taxes. the president has said that taxes will go up on the wealthy. he holds the trump card in that and nothing gets done that will happen. >> well, you know, jonathan, it's funny you say that the republicans may be recognizing they don't have the leverage here but trying to assert some leverage by saying that they'll do another sort of debt ceiling showdown and not satisfied with the outcome this month, the debt ceiling probably a month later, early february and saying they want to have another showdown if necessary over that. the official position of the white house is we're not going down that road again. we are not going to be negotiating and hostage games over this. however, there was a report on friday from ezra klein saying that this is not anything they're talking about publicly but the conversation within the white house is about the idea of giving in to republicans on raising the eligibility age for medicare, raising that two years in exchange for a partial increase on the top marginal tax rate to 37% instead of 39.6% obama is asking for. th
it looks like there's a deal on taxes. the president has said that taxes will go up on the wealthy. he holds the trump card in that and nothing gets done that will happen. >> well, you know, jonathan, it's funny you say that the republicans may be recognizing they don't have the leverage here but trying to assert some leverage by saying that they'll do another sort of debt ceiling showdown and not satisfied with the outcome this month, the debt ceiling probably a month later, early...
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Dec 9, 2012
12/12
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. >> taxing the rich, they're against that. >> there are individual ins out there they can appeal to. my point is broadly speaking you cannot lump -- what demint is doing is saying this gaggle of conservatives will be following behind. the split is much more than you think it is within the party. that has to be reconciled, to be honest and to your point and your question about what would i say, i would say, look, understand where the -- >> you're center right and you think the country is. >> understand where the country is. that's where you need to be. >> on the rush limbaugh show yesterday, demint, the senator from south carolina just quit said conservative's problem is not their message, their problem is getting the message out. let's listen. >> i think the problem is, as conservatives, we have not taken enough control of our message and our ideas and communicated them directly to the american people. that's what we want to do at heritage. >> don't you love the way he chews on that togy? not that there's anything wrong with it. you're back here again. every party that loses an elect
. >> taxing the rich, they're against that. >> there are individual ins out there they can appeal to. my point is broadly speaking you cannot lump -- what demint is doing is saying this gaggle of conservatives will be following behind. the split is much more than you think it is within the party. that has to be reconciled, to be honest and to your point and your question about what would i say, i would say, look, understand where the -- >> you're center right and you think the...
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Dec 9, 2012
12/12
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in just 24 days, more than $500 billion in tax increases take hold. frustration is evident on capitol hill. boehner saying friday there's no progress to report. we'll find out the latest on fox news sunday. host chris wallace joins us with a preview. good morning, chris. >> good morning, melanie. >> we're not hearing compromise at the top, but i'm wondering if among the ground troops, are we hearing any willingness to compromise? >> no. i think that what you're seeing in public is what they are seeing in private, which is that neither side is willing to make a deal. now, it may be we're not close enough to the deadline for people to get to where their bottom line position is. but you talk about speaker boehner. in a news conference friday, he said another week has been wasted. and i get very little sense that they, behind the scenes, are making much progress. we'll talk to two of the key plaifers in all of this at the top of the hour. charles schumer of new york, one of the leading democrats in the senate, and republican senator bob corker, and we'll
in just 24 days, more than $500 billion in tax increases take hold. frustration is evident on capitol hill. boehner saying friday there's no progress to report. we'll find out the latest on fox news sunday. host chris wallace joins us with a preview. good morning, chris. >> good morning, melanie. >> we're not hearing compromise at the top, but i'm wondering if among the ground troops, are we hearing any willingness to compromise? >> no. i think that what you're seeing in...
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Dec 8, 2012
12/12
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are you -- is there no deal at the end of the year if tax rates for the top 2% aren't the clinton tax rates, period. no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a press conference at the capital, bain got a question about this. listen carefully to how he responded or didn't respond. >> you did speak with the president earlier this week. can you characterize this call? and also we understand that he just is making clear that it's got to be increasing rates for the wealthy or no deal. are you willing to give a little bit? maybe just not all the way to 39.6? >> the phone call was pleasant, but just more of the same. the conversations that the staff had yesterday, just
are you -- is there no deal at the end of the year if tax rates for the top 2% aren't the clinton tax rates, period. no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the...
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Dec 8, 2012
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if the tax break goes away as part of the so-called fiscal cliff they could be taxed on the $95,000 as additional income starting in 2013. >> how much homeowners will owe on that amount depends on the tax bracket they are in. on average it would be $20,000 to $25,000. banks have extra incentive to sell short and absorb the loss. under the act that went in this year the nation's biggest lenders get a credit on short sales. foreclosures also sell for $30,000 less than homes sold via short sales. expect short sales to jump more as homeowners look to avoid getting hit with taxes and banks look to avoid getting stuck with properties. if we go over the cliff the tax bill homeowners face with the short sale may be steep enough to walk away instead. that would push foreclosure rates higher in 2013. for smart is the new rich i'm christine romans. >> coming up, a huge legal headache for pop star shakira. she's being slapped with a $100 million lawsuit by her ex-boyfriend and former business partner. does he have a case? our legal guys share their thoughts. americans believe they should be in cha
if the tax break goes away as part of the so-called fiscal cliff they could be taxed on the $95,000 as additional income starting in 2013. >> how much homeowners will owe on that amount depends on the tax bracket they are in. on average it would be $20,000 to $25,000. banks have extra incentive to sell short and absorb the loss. under the act that went in this year the nation's biggest lenders get a credit on short sales. foreclosures also sell for $30,000 less than homes sold via short...
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Dec 8, 2012
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about is on the issues that the conservative movement is going to be talking to the country about -- >> taxing the rich? they're against that. >> there are individuals out there that they can appeal to, and my point is more broadly speaking that you cannot lump this -- what demint is doing and saying that all this gaggle of conservatives are going to be following behind it. >> i agree with that part. >> the split is much more than you think it is within the party. and so that's got to be reconciled to be honest about it. it's got to be reconciled, and to your point and your question about what would i say? i would say, look -- >> you're center right. you think the country is like you. >> understand where the country is, and that's where you need to be. >> rush limbaugh's show yesterday demint said conservatives' problem is not their message. their problem is getting their message out. let's listen. >> i think the problem is, as conservatives, we have not taken enough control of our message and our ideas and communicated them directly to the american people. that's what we want to do at heritag
about is on the issues that the conservative movement is going to be talking to the country about -- >> taxing the rich? they're against that. >> there are individuals out there that they can appeal to, and my point is more broadly speaking that you cannot lump this -- what demint is doing and saying that all this gaggle of conservatives are going to be following behind it. >> i agree with that part. >> the split is much more than you think it is within the party. and so...
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Dec 7, 2012
12/12
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i think that the fiscal cliff and it is a cliff, on january 1 withholding taxes go up to the tune of $400 billion. >> not necessarily. >> it would have a very negative effect on the economy. according to the legislation they would, jared. >> they would not. >> jared, you have to -- >> let me make a point. the treasury secretary can decide if he or she believes a deal sl imminent not to adjust withholding tables. very important. >> i'm talking about no deal and we go off the cliff. >> we go off and stay off. >> it's $400 billion. we have a lot of things to do with regard to our debt ceiling, and my feeling is no one really believes the united states of america is going to default on its debt even if it lapses. we're dealing with different things. one is real and substantive and the other is psychological. >> i really disagree. >> i know you do. >> we could have a good discussion about this if we had more time. the idea that if the debt ceiling lapses, peter, that means that we can no longer borrow from credit markets and can't finance our debt. >> we're doing most of our borrowing rig
i think that the fiscal cliff and it is a cliff, on january 1 withholding taxes go up to the tune of $400 billion. >> not necessarily. >> it would have a very negative effect on the economy. according to the legislation they would, jared. >> they would not. >> jared, you have to -- >> let me make a point. the treasury secretary can decide if he or she believes a deal sl imminent not to adjust withholding tables. very important. >> i'm talking about no deal...
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Dec 10, 2012
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> with respect to the issue of whether gays and lesbians should be able to get married, i have spoken about this recently, as i have said. my feelings about this are constantly evolving. i struggle with this. >> that was president obama in 2010. his evolution has progressed rapidly in less than two years. >> at a certain point i've just concluded that for me personally it is important for me to go ahead and affirm that i think same-sex couples should be able it get married, and i continue to believe that this is an issue that is going to be worked out at the local level because historically this has not been a federal issue. >> soon the supreme court may go one step further and dec
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> with respect to the issue of whether gays and lesbians should be able to get...
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Dec 10, 2012
12/12
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i e their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. td
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm...
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Dec 4, 2012
12/12
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tax the rich first. obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got it. >> after the break, offer ver ses counteroffer. we will break both down with ezra klein when he joins us next on "now." i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our env
tax the rich first. obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got...
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Dec 10, 2012
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and, you know, even in his first term, he talked about real tax reform. and corporate tax reform. and so he wants to find ways in which to keep american businesses here in the country. but also find ways in which we can streamline our tax code. to make small businesses work better. and to grow. and so i -- i am very, very confident that the democrats are very sincere in their thoughts about reforming the tax code next year. >> all right. carrie, i want to play this for everybody. this clip from chuck todd's interview with erskine bowles. >> i don't see why the president would want to negotiate against himself on this. if republicans are going to be willing to reduce entitlements, then he ought to come forward and talk about those that they're willing to support. >> carrie, the president has been willing, publicly willing, at least to say so, to take a hard look at entitlements. isn't it now time for the republicans to offer up the specifics of what they want? the onus is on them? >> that's certainly the position of the white house and democrats on the hill. they say they've been w
and, you know, even in his first term, he talked about real tax reform. and corporate tax reform. and so he wants to find ways in which to keep american businesses here in the country. but also find ways in which we can streamline our tax code. to make small businesses work better. and to grow. and so i -- i am very, very confident that the democrats are very sincere in their thoughts about reforming the tax code next year. >> all right. carrie, i want to play this for everybody. this...
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Dec 8, 2012
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nobody creates a job to get a tax cut. you create jobs when you have more customers with more money to spend on product and services. it's getting money throwing through the bottom 90% of the economy. >> we're seeing record levels of long-term unemployment right now. this is the angst in the economy. even though it's dropped to 7.7%, millions of people have been out of work for 27 weeks or more. long-term unemployment benefits expire on december 29th. this is part of the cliff. it's going to be a tough holiday for a lot of families across the country. last week, we got to point out that the congressional budget office was reported we could add 300,000 more jobs by extending benefits. it would cost $30 billion. now will republicans agree at least to extend the unemployment benefits or do they just not see any value in doing that. because they are just opposed to it. >> they only need about 25 republicans to step over to agree to do this. and you're seeing grover norquist grip fall apart. this is a really important thing to
nobody creates a job to get a tax cut. you create jobs when you have more customers with more money to spend on product and services. it's getting money throwing through the bottom 90% of the economy. >> we're seeing record levels of long-term unemployment right now. this is the angst in the economy. even though it's dropped to 7.7%, millions of people have been out of work for 27 weeks or more. long-term unemployment benefits expire on december 29th. this is part of the cliff. it's going...